Global Off the Road Tire Market Size, Share, Forecast Report, 2020-2027

The global Off the Road Tire market garnered revenue around USD XX Billion in 2019 and projected to reach USD XX Billion in 2027, with at a compound annual growth rate of 5% throughout the estimate period from 2020 to 2027.

Off the road tires refer to a specific category of tires that support increased traction in unpaved surfaces with mud, loose dirt, gravel, or sand. These tires are equipped with deep tread patterns that aid in the vehicle traction in off-road conditions or high terrains. The off-road tire can be further divided into various sections, such as tire tread, tire casing, inner liner, and sidewall, that play a vital role in product design, quality, and reliability. Off-road tires generally include bias, belted bias, and radial types and find applications in sectors such as construction, mining, and agriculture.

This research report encompasses precise assessment of the market with the help of comprehensive qualitative insights and supportable prognoses regarding market size, consumption and production. The projections presented in the report have been derived using proven research methodologies and assumptions. It does so by means of comprehensive qualitative insights, historical statistics, and verifiable predictions about market revenue and sales.

The rapidly budding threat owed to the eruption of COVID-19 is impacting lives, communities, businesses, and industries across the globe. With businesses shuttered, flights grounded, COVID-19 is about to affect the global economy in different ways such as by directly upsetting production and demand, by generating supply chain disruption, and by its financial impact on firms and financial markets. Therefore, this report covers COVID-19 outbreak impact analysis on the Off the Road Tire market under the research study. The market estimates offered in the report are the outcome of in-depth extensive secondary research, primary interviews and in-house professional assessments. These market evaluations have been measured by reviewing the impact of numerous social, political and economic factors coupled with recent market dynamics affecting the Off the Road Tire market growth.

The global Off the Road Tire market is characterized by the presence of numerous small as well as medium scale companies. These players are largely focused towards forward integration via raw material production, product manufacturing, and distribution across various industry verticals. The report recognizes numerous crucial manufacturers of the market. This research study aids to comprehend the strategies and associations that companies are converging to survive in this competitive marketplace. This report assists in understanding footprints of the manufacturers with the help of their global revenue, production, capacity and average selling price analysis for period 2016-2027.

Major manufacturers analysed under this study comprises:

The Key Players of the Global Off the Road Tire Market are Continental AG (Germany), Bridgestone (Japan), Goodyear (US), Michelin (France), Pirelli & C S.P.A (Italy), Cheng Shin Tire (Taiwan), Titan International, Inc. (US), Toyo Tire Corp. (Japan), and Apollo Tyres Ltd. (India). Vendors in the off the road tire market are focusing on improving their services and expanding geographically into the developing economies. The major players may strengthen their presence worldwide through the acquisition of local and regional players for expanding their presence in those regions during the forecast period.

This report delivers market breakdown and its revenue, consumption, production analysis and projections by categorizing it depending on parameters such as type, application/end-user, and region. This research report delivers the analysis and prognosis of revenue, production, price, market share and growth trend for different products such as:

Global Market for Off the Road Tires is segmented based on Vehicle Type, Construction Type, Distribution Channel, and Region.

The vehicle type segment is divided into mining, agricultural vehicle, construction and industrial equipment, and others. The off the road tires have applications in the mining, construction, and agriculture industries. These tires are utilized for large-scale machinery at construction, mining, and other sites that often have muddy paths and no roads. The mining industry relies on heavy machineries, such as excavators, backhoe loaders, skid steer loaders, dumpers, bulldozers, motor graders, road rollers, and others. These vehicles need to operate in areas where roads are in dilapidated conditions or are non-existent, such as forests, taverns, and plateaus.

The global off the road tire market has been segmented into bias, radial, and belted bias segments, based on the construction type. The construction type defines the features and the downsides of the tires, such as the amount of rolling resistance, the smoothness of rides, shock absorbance, and the longevity of these tires. Bias tires have nylon belts that run at 30 to 45-degree angle with the tread line. The multiple overlapping rubber plies in the tire connect the sidewall and tread. The stiff internal construction causes less contact with the ground and may result in overheating.

The distribution channel segment is bifurcated into original equipment manufacturers (OEM) and aftermarket. The aftermarket segment is dominating the global market and accounted for a value share of 60.4% in 2018. The life span of off the road tires is relatively less, leading to the high requirement of tires for the vehicle during its life span. This results in a higher share of the aftermarket segment in the global off the road tire market. The processes in the OEM segment involve the procurement and installation of off the road tires while manufacturing the vehicle by industrial vehicle manufacturers.

Regional Analysis and Forecast

Further, this research study analyses market size, production, consumption and its advancement trends at global, regional, and country level for period 2016 to 2027 and covers following region in its scope:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • U.K.
  • Italy
  • France
  • Rest of EU
• Asia Pacific
  • China
  • India
  • Japan
  • Southeast Asia
  • Rest of APAC
• Central & South America
  • Brazil
  • Argentina
  • Rest of Central & South America
• Middle East and Africa
  • UAE
  • Saudi Arabia
  • Rest of MEA